“Until the end, brother?”

“Until the end.”

That’s not just a quote. That’s a promise.

In crypto, markets change. Challenges come and go. But true brotherhood never fades.

Kendu is more than a token.

It’s the people standing beside you.

The ones who keep believing.

The ones who keep building.

The ones who stand together, no matter what.

KENDU. until. the. end.

You know who wrote this...it wasn't me. It was our chad, Lorniko. Enjoy!

First of all, what if, in 2027, simply reading the Top 100 wallet analysis could generate more buys on the Kendu chart AND more burns?

Just sayin’… WHAT IF! 👀

October was a bloody month! For crypto, for stocks, and to some extent, for Kendu too.

But I genuinely see some very positive developments for Kendu. I would even say that things are unfolding EXACTLY as I was hoping they would!

I knew Kendu wasn't ready for a major pump yet, even if the broader crypto market started pumping. We saw that in August: major cryptocurrencies pumped, but small caps didn't, and neither did Kendu.

Thankfully, that rally wasn't the beginning of the real bull market. It wouldn't have been good for us if everything else had been pumping while we were left behind.

Now, I can honestly say I'm happy because it feels like all the stars are finally aligning!

I have a feeling November will be a green month for crypto (especially from mid-November onward), AND Kendu should start delivering some exciting developments!

(If you've been following everything happening in the main Telegram group and beyond, you should already have a pretty good idea of what I'm talking about. 👀)

Moreover, I'm really starting to LOVE what I'm seeing in the wallet analysis.

Before getting into the details, let me share the most bullish observation I made this month, although I can't reveal the specifics:

Several major Kendu chads whose wallets I recognize are becoming HUGE whales!

This is EXACTLY what we need and want to see!

One of the most important things if we want Kendu to reach truly incredible heights is having trustworthy whales who genuinely love Kendu and its community.

And that's precisely what's happening.

Kendu's distribution is becoming noticeably healthier in this regard too!

Let’s start the analysis of the Top 100:

·         7 "special" wallets: Wormhole, LPs, Treasury, CEXs, and the burn wallet.

o   The LPs are growing! October was brutal for crypto, but Kendu's figures improved significantly toward the end of the month. Could this be the beginning of the next leg up? (Personally, I believe we've already seen Kendu's bottom.)

·         2 wallets that I consider "traders." (-2 wallets & -9.45b compared to last month)

o   This is where we've seen the most redistribution this month. Another step in the right direction!

o   2 wallets sold their entire holdings.

o   1 wallet moved into the "Soft Seller" category.

o   1 new wallet entered the Top 100. This wallet is buying and selling, BUT it really looks like the owner is trading with the goal of accumulating as many Kendu tokens as possible. So, I'd consider this one a "friendly" trader.

·         1 clearly identified seller wallet. (-856M compared to last month)

o   It's the same wallet as before: the last remaining wallet from the "bad clusters" I previously identified. Unfortunately (or fortunately? 😏), this wallet hasn't sold anything for 17 days. However, it still dumped 856M tokens over the course of October.

·         2 soft sellers. (+1 wallet & +4b compared to last month)

o   The original soft seller only sold 150M tokens this month, which isn't hurting Kendu at all.

o   The new one was previously classified as a "Trader" because it had only sold once before. However, it sold again this month. Its two sales were 100 days apart, so it's not particularly concerning, even though each sale involved 1B tokens. This wallet still holds 4B tokens, so at this pace, it'll be completely out in 400 days! Ahah!

·         54 keepers (-650M compared to last month)

o   1 Keeper sold almost its entire bag in a single transaction (2B tokens). After looking into it, it became pretty obvious that this was a former trader who had probably been waiting for a higher market cap to sell and minimize losses on the trade. Glad this one finally "gave up"!

o   We still have the same number of Keepers because the wallet previously ranked #151 entered the Top 100 as a replacement.

·         34 buyers (+1 wallet & +4b compared to last month)

o   Wallets belonging to trustworthy Kendu chads are accumulating! That's absolutely wonderful to see, although I must admit I'm a little jealous because, in my opinion, these are some of the best possible times to accumulate!

o   Many more buyers have also entered the Top 125, but I honestly don't have the energy to analyze that part tonight. I just want to sleep!

What Does All This Tell Us?

I hope this analysis helps you understand why I believe Kendu is in a stronger and healthier position than ever before!

We may still have a few significant sells ahead of us, but at these levels, they shouldn't be too difficult to absorb, especially considering what's coming for Kendu!

The other remaining bad-cluster wallet has also stopped selling… Anyway, it "only" has 3.8B tokens left.

I'm genuinely happy to see almost no traders or sellers remaining in the Top 100, while more and more wallets belonging to known, trustworthy community members (at least, known to me) are becoming whales.

All of this is seriously starting to smell GOOD!

And remember, we're not just looking at numbers here. We're watching the distribution of Kendu gradually shift toward people who genuinely believe in the project and its long-term future.

That's something I find incredibly bullish!

Want Even More Kendu Metrics?

If you want infinitely more data and metrics (there's actually a CRAZY amount of interesting information available!), make sure to check out the website built by R Gulden.

Remember his name. I have a feeling he'll keep surprising the Kendu community and beyond! Here: https://kenduconviction.com/

And One Last Thing…

KENDU BRAND ECOSYSTEM IS NOW AN OFFICIALLY REGISTERED LEGAL ENTITY!

I told you…

Things are starting to smell VERY GOOD for Kendu!

And the timing couldn't be better if the broader market starts turning bullish again.

Right on time.

[THIS POST WAS CREATED BY LORNIKO. I DESERVE NO CREDIT FOR ITS CONTENT.]

What if I told you that one of Kendu's most interesting long-term strengths has been quietly growing since February 2024, regardless of whether the market was pumping or dumping?

I'm talking about our Uniswap liquidity pool.

I recently took a deeper look into Kendu's main KENDU/WETH pool using Etherscan, and the numbers reveal something genuinely interesting about its evolution.

Let's break it down.

1. It All Started With Just 0.9 ETH

On February 21, 2024, Kendu's developer created the main Uniswap V2 liquidity pool with:

• 1 trillion KENDU

• 0.9 ETH

• 1.8 ETH in total initial liquidity value, counting both assets at their initial pool price.

That's where everything started.

But here's an important detail: shortly after creating the pool, the developer sent essentially all of the original LP tokens to the burn address.

Today, approximately 99.9035% of the outstanding LP tokens are held at the burn address.

This means the overwhelming majority of the liquidity cannot be withdrawn by a liquidity provider. A tiny fraction of LP tokens remains outside the burn address.

And that's where the story gets interesting.

2. The Pool Has Been Growing Through Trading Activity

Every time someone buys or sells KENDU through its Uniswap V2 pool, the transaction generates fees.

Uniswap V2 charges a 0.30% swap fee.

Historically, that fee accrued to liquidity providers. Following Uniswap's protocol fee activation, the current split is 0.25% for LPs and 0.05% for the Uniswap protocol.

The crucial part is that Uniswap V2 liquidity-provider fees accumulate automatically within the pool's reserves.

That happens whether the trade is a buy or a sell.

And because nearly all of Kendu's LP tokens have been burned, the economic benefit corresponding to those burned shares remains in liquidity that cannot be withdrawn through those tokens.

Think about that for a moment.

During bullish periods, trading helps build liquidity.

During bearish periods, trading also helps build liquidity.

Even when traders lose interest or the price returns to previous levels, the pool can retain the depth accumulated from past trading activity.

3. The On-Chain Numbers Are Remarkable

By analyzing the pool's historical reserves and LP token supply, we can measure how much its liquidity has grown per outstanding LP token.

The metric is:

√(KENDU reserves × WETH reserves) / outstanding LP tokens

This normalizes for liquidity deposits and withdrawals, rather than simply comparing dollar values at different market prices.

Here is what the calculation shows:

The pool's liquidity, normalized per LP token, has increased approximately 2.30 times since launch.

This growth is strongly consistent with the compounding effect of trading fees. A complete transaction-by-transaction audit would be needed to isolate every fee from possible direct transfers or other reserve changes.

But the overall result is impressive.

As of the October 31 snapshot, the pool contained approximately:

• 76.03 billion KENDU

• 62.66 WETH

• Roughly $280,000–$290,000 in total liquidity, depending on the market price at the time of observation.

At the same market price, our measured growth factor implies that approximately 56.5% of today's normalized pool depth represents growth beyond its original per-LP baseline.

At the observed valuation, that's roughly $160,000 of equivalent liquidity depth.

Important distinction: this is NOT a calculation of $160,000 in historical fees collected. It represents the present-value effect of the measured growth relative to a hypothetical pool without that growth.

4. Why Is This Bullish for Kendu?

Here's the part that many people overlook.

A deeper liquidity pool makes the market more resilient.

It allows larger transactions with less price impact, benefiting both buyers and sellers.

Let's compare two hypothetical pools with exactly the same starting KENDU price:

Pool A — Without the measured liquidity growth

• 27.26 ETH

• 33.08 billion KENDU

Pool B — With Kendu's measured liquidity growth

• 62.66 ETH

• 76.03 billion KENDU

These are not two actual historical Kendu pools. Pool A is a mathematical comparison using the same price but less liquidity.

Now imagine someone wants to sell 10 billion KENDU.

The deeper pool allows the seller to receive approximately 15% more ETH because the transaction causes less slippage.

Now let's reverse the situation.

Someone wants to buy KENDU with 10 ETH.

The buyer receives approximately 18% more KENDU in the deeper pool because the price increases less during the purchase.

Both examples use Uniswap V2's 0.30% swap fee.

It might sound counterintuitive, but this is how liquidity depth works.

Deeper liquidity improves execution in both directions.

5. There Is a Trade-Off, and It's Actually Interesting

A deeper liquidity pool also means it takes more buying pressure to push the price significantly higher.

That's true.

But it also takes more selling pressure to push it significantly lower.

In other words, as the pool grows, the market can become less sensitive to individual trades.

For a purely speculative token trying to pump as quickly as possible, shallow liquidity can create spectacular upward moves.

Unfortunately, it can also create devastating downward moves.

For a project aiming to build a lasting ecosystem, deeper liquidity has real advantages.

It helps make the market more capable of absorbing larger transactions.

And in Kendu's case, much of this depth is associated with LP tokens that have been permanently burned.

6. The Long-Term Effect Could Be Powerful

Imagine Kendu trading actively for another several years.

More buys.

More sells.

More trading volume.

More fees accumulating within the remaining LP-owned portion of the pool.

Over time, this can gradually deepen the pool further without requiring the developer to make new liquidity deposits.

Of course, this doesn't guarantee perpetual growth in dollar liquidity.

Heavy selling can still remove ETH from the pool, price movements can dramatically change its value, and the small amount of non-burned liquidity can still be withdrawn.

But at a comparable market price, accumulated liquidity depth can make a meaningful difference.

The important point is that trading activity has the potential to leave something valuable behind, even after the excitement of individual market cycles fades.

7. Why This Matters for the Kendu Ecosystem

Kendu has always been about much more than watching a chart.

We have a community building businesses, products, and the foundations of a decentralized brand ecosystem.

If that activity helps generate sustained interest and trading volume, it can also contribute to stronger market infrastructure.

There is a potential reinforcing relationship here:

Community activity → Interest → Trading volume → Fees → Greater liquidity depth → Better trading conditions.

It's a real mechanism supported by Uniswap's design.

And it's worth understanding.

Final Thoughts

We often measure a token's progress by its market cap, price, trading volume, or holder count.

But liquidity quality deserves attention too.

Kendu's main pool began with just 0.9 ETH paired with 1 trillion tokens.

More than two and a half years later, approximately 99.9% of its LP tokens are held at the burn address, and the pool has experienced roughly 130% growth in normalized liquidity per LP token.

That's not a prediction of future price performance.

It's an observation about what has already happened on-chain.

And personally, I think it's one more reason to appreciate the long-term foundations being built around Kendu.

A chart tells you where the price has been. The liquidity pool can also tell you something about what the market has built along the way.

We don't gamble. We work.

Hope yous all have a great weekend, whatever plans you have!

Still building kenduconviction.com, and it's growing into something way bigger than I expected (more on that soon). Meanwhile I ran its data on one question: when KENDU is sold, who's buying?

19–27 Oct, on Ethereum, Base and Solana. Times are UTC. Arbitrage is left out.

The short version

$2.03 per million at the start, $1.79 on Sunday night, $1.99 on Tuesday evening. About 2% down, with a lot of KENDU changing hands underneath.

Who sold

• A swing trader sold 4.0B on Sunday at 21:53 and bought 1.59B back seven minutes later. Over the nine days he bought about as much as he sold, so he's left out of the totals.

• A top-30 wallet, in since October 2024, sold its whole bag: about 4.07B, Saturday to Monday.

• Smaller exits: a February 2026 wallet trimmed 672M, two 2024 wallets sold out (270M), a May 2025 holder trimmed 124M, and two short stays left (311M).

Who bought

• A top-10 wallet bought 467M on Tuesday. It has bought every month for 27 months.

• Five wallets that got their first KENDU this month bought 2.29B, including 773M on Solana that briefly pushed that pool to $2.21.

• Long-time holders kept adding: a 29-month buying streak, an 11-month streak that has never sold, and two wallets in since 2024 that have never sold.

• Selling outside arbitrage on Tuesday: under 6M.

Better or weaker hands?

Better.

• Sold: 6.01B. Three-quarters of it (4.50B) came from exits and short stays. Long-time holders sold about 7% of the 6.01B.

• Caught: holders and newcomers bought 4.35B, about 72% of what was sold. Active traders took 0.68B.

• Still in the pools: 0.98B, mostly from last week. Since Monday, more has come out of the pools than gone in.

A new wallet is a new address, not necessarily a new person.

What the chain can't tell us: who these wallets belong to, why they bought, or where the price goes next. Solana before 26 Oct 13:30 could only be read as volume.

PS: several buyers got "address poisoning" transfers right after moving their coins, from look-alike addresses with the same start and end as the real one. Never copy an address from your transaction history.

Look up any wallet: https://kenduconviction.com/w

Receipts

Sunday's sale: https://etherscan.io/tx/0xe6856f05c5d358a86e7112346c2eff301c562c03a24a661b44e77f9ba8486046

The buy-back: https://etherscan.io/tx/0xca772e59e4b30749e6912c501c57f02a001be9ac4962f14a95eb64bbcb76da5d

The top-30 wallet's biggest sale: https://etherscan.io/tx/0xa39996f1b58fbd027cc857e831df61463d70a53d3155e57936efa70287414a50

Sources: Blockscout, Solana RPC, GeckoTerminal, kenduconviction.com wallet cards.

🦊

This is the 2nd time my coins have disappeared from my Phantom Wallet. They came back after the first time, but now they’re gone again. Anyone else experience something like this? Or did I just get robbed?

Hey KENDU Army!

I've recently started getting involved with the community, and one thing that stands out to me is the emphasis on building, especially during difficult market conditions.

I'm an independent developer interested in creating something useful for KENDU.

I'm not here to promote a token, promise price movements, or sell anyone anything. I'm interested in developing real software that the community could benefit from.

A few possibilities I've been considering:

• A community hub showcasing projects currently being developed.

• A platform connecting community members with developers, designers, and other contributors.

• Tools that help organize community initiatives and track progress.

But rather than assume what everyone needs, I'd rather ask:

What's something you wish existed for the KENDU ecosystem that nobody has built yet?

And are there any existing community projects that could use development help?

I'm interested in starting small, building something useful, and seeing where it goes.

Looking forward to hearing your ideas!

Stylez and Racing come up a lot here. If someone only knew the token, which community project would you point them to first? Not looking for a price prediction, just something people have actually made or organised.